It’s been a busy few days for Alexis Ohanian. VentureWire reports today that the Reddit co-founder took part in a fresh venture round for parking-app startup ParkWhiz and invested alongside NBA star Carmelo Anthony’s new seed fund, M7 Tech Partners, in kids’ story app maker Hullabalu. Ohanian has also joined Y Combinator as a partner, re/code’s Kara Swisher reports. The move comes amid a general restructuring for Y Combinator, which also said imeem and App.net co-founder Dalton Caldwell and TalkBin founder Qasar Younis had become YC partners after serving in part-time partner roles. Homejoy co-founder Adora Cheung also joined as a part-time partner.

ALSO IN TODAY’S VENTUREWIRE (subscription required):

GeneCentric Diagnostics has completed a $5 million Series A round led by Hatteras Venture Partners to advance gene-based diagnostic technology.

Trupanion, a pet insurance company backed by investors including Maveron, experienced a modest first-day pop on the NYSE Friday.

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ELSEWHERE AROUND THE WEB:

Silicon Valley and Libertarianism. The Reboot conference, hosted by “conservatarian” tech group LincolnLabs, took place in San Francisco over the weekend, and Mark Ames wrote a provocative piece in PandoDaily examining the libertarian DNA of Silicon Valley.

Silly or Not, Yo Closes Seed Round. Plenty of people scoffed at the Yo app as the latest sign of Silicon Valley triviality. Now the super-simple notification tool has closed $1.5 million in seed funding with a $10 million valuation from Betaworks, Mashable’s Pete Cashmore, and the founders of China’s Tencent, among others, TechCrunch reports. Chances are Yo will continue to be an object of mockery for many, but there are plenty who believe its “on-off” tech has intriguing potential. Betaworks CEO John Borthwick writes in a blog post that the app represents a huge new opportunity for a very useful “notification layer” on the phone. Yo publicist Ayelet Noffdescribes Yo’s rise in a guest post for VentureBeat.

Digits Butlers On Your Phone. A startup called Humin, a new kind of responsive phone and contacts app, is part of a larger phenomenon called contextual computing that will lead to a sort of ambient awareness of the contents of our day, Christopher Mims writes for the WSJ. Humin investors include TomorrowVentures, 1st Round Entertainment and U.S. Venture Partners.

Imgur Reveals Redesign, Plans for a Convention. Image-hosting site Imgur debuted a redesign and is planning a slew of in-person events and a convention, all thanks to a recent injection of $40 million in VC funding, Betabeat’s Jack Smith IV reports. The company raised its first major funding round in April from Andreessen Horowitz and Reddit, the forum where Imgur got its start.

How to Get the Last Laugh on Competitors. What to do when a competitor steals your site design? Brad Feld of Foundry Group says one option is to make a big public stink about it, but the better one is to take the high road—and just focus on crushing them.

Are VCs Really Necessary? A Stanford researcher proposes a solution to what he calls a broken venture capital industry–he says limited partners should cut out the middleman and just invest in startups directly.

Sequoia Feeds on Y Combinator’s Success.Sequoia Capital appears to be the venture firm that has benefited the most from the success of startup accelerator Y Combinator, says a post by Rohin Dhar from Priceonomics via Techmeme. That’s because Sequoia was the Series A investor in the three companies that account for most of the value of the Y Combinator portfolio: Airbnb, Dropbox and Stripe.

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